August Equity on the majority sale of Wax Digital to Medius
Torch Partners has acted as exclusive financial adviser to August Equity on the majority sale of Wax Digital to Medius. The sale represents another successful technology investment for August and generated a very strong money multiple, significantly ahead of its original targeted return.
Wax Digital, backed by August Equity, is a high growth, cloud based spend management software provider offering its clients an integrated source-to-pay software platform. Its solutions are deployed in over 100 countries with 250,000+ users worldwide.
Medius, backed by Marlin Equity Partners, is a leading global provider of accounts payable (AP) invoice automation solutions helping companies drive their business forward by providing best-in-class process efficiency and greater financial control. Over 3,000 customers and 200,000+ unique users worldwide currently leverage Medius’ AP automation solutions.
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